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2018's TOP 10 Most Expensive Sold Home in Stockton CA

Stockton, CA:

In 2018, of 7 of the top 10 most expensive sold homes were found in the Brookside Country Club neighborhood.  The remaining three homes were sold in the east side of Stockton, where the homes were built upon multiple acres of land.

 

THE NUMBERS:

  • 7 of 10 sold homes were in Stockton's Brookside community
  • All 10 homes sold for over $1,000,000
  • The average square footage was 4,374
  • The average price was $1,502,050

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  • The largest home was 6,680 square feet
  • The large lot size was 19.760 acres
  • The most number of bathrooms was 7

Considering a move in the near future?  Have questions about selling your home? Contact #1 voted agent*, David McKeever at (209)483-6523

* David was voted "Best Realtor" in the Best of San Joaquin Award in the years 2017 and 2018.

 

What Happened in the 2018 Stockton CA Real Estate Market?

Stockton CA:
In this review of the Stockton CA housing market we will take a look a 3 key housing metrics to judge how the year of 2018 went in Stockton.  I'l review the total number of sales, average sold prices and the days on market indicator to evaluate the strength of this market going into 2019.

 

In 2018 there were 3130 homes which sold.  This is an 11% drop in transactions vs 2017 which saw 3500 sales.  I believe the leading cause of the decrease in sales were from two reasons.  1.  In the first 4-5 months of the year, we had very low inventory of homes for sale (see chart below) which made it difficult for home buyers to find the right home.  2.  Mortgage interest rate climbed in the mid to end of 2018 making it more difficult to afford the same home as in 2017.

 

The average sold home in Stockton in the month December 2017 was priced at $303,000.  The average sold home in Stockton increased over the course of the year peaking in April and June at $327,000.  A strong return.  However, in the last two months of 2018, the sold home price decreased to $304,000. I fell that comparing just the two December months isn't a good indicator of the true return in 2018. 

To get a better idea of the home appreciation in 2018 in Stockton Ca lets take a look at the average price per square foot statistic.  Below is a 2 year chart of the average price per sq foot in Stockton CA.  It show quite a positive return over the last two years.  In December of 2017, the average price per sq ft was $177.  In December of 2018, we ended the year at $187 per sq ft.  That's an 5.6% increase in this statistic and, in my opinion, more realistic of the true appreciation we saw in the Stockton Ca real estate market.

Lastly, I wanted to show the days on market trend in Stockton.  Days on market is the indicator and length it takes for a ACTIVE home on the market to go PENDING.  Below is a 3 year chart of this trend in Stockton.  The Days on Market in the last quart of 2017 was at 36 days.  The last quarter average in 2018 it took about 40 days to sell a home.
 

You will notice below that in each of the last 3 years, a trend has repeated it self in the winter months of November - February, where the days on market trend increases.  With the shifting housing market, this trend will be watched very closing in the coming months as we enter the spring season.

For further information or to get and idea of what your Stockton CA home is worth, contact David McKeever, Stockton Real Estate Broker and Realtor.

David is a recent recipient of the BEST REALTOR in the Best of San Joaquin awards for the years 2017 & 2018, and 5 year member of the Lodi Associations Master Club award winners.

 

Get ready to sell your home in Stockton, CA in 2019

 

If you are thinking of selling your Stockton, CA home, you are probably thinking of waiting until spring 2019 to put your home on the market. Spring, after all, can be peak selling season in our area. If you think about it to long, the peak selling season may just pass you by?

Determine your target move out date

Maybe you have to be out of your house by a certain date to get the kids registered in their new school. Or you are downsizing to be closer to the grand-kids and want to be in your new place when their summer break starts so you can explore your area with them. Whether your move out date is flexible, or set in stone, you need to figure this date out first and then work backwards to set the rest of your timeline.

Create your ideal selling timeline

Working backwards from your target move out date you can calculate your target launch date for putting your house on the market. If you need to be out by June 30 for example, your timeline would look like this:

6/30 move out

5/31 open escrow (for a 30 day escrow)

5/28 accept offer with a few days cushion to negotiate terms.

5/1 The home is professionally listed MLS to allow for enough time to have open houses and get buyers in to see your home.  Homes in Stockton on average are are taking 43 days to sale.  (See the latest Stockton Housing trends).  Some are taking longer to sell, some shorter.

It feels like the market is slowing down

You might be a little worried because it feels like the velocity in the market is slowing down. The market has shifted some. It is like someone let their foot up off the gas, but not necessarily is slamming on the brakes. If this trend continues, as is likely, you may need more time between the day you put your house on the market and the day you get an offer that is acceptable. In our example timeline above that means you would be putting your house on the market in mid-April.

Before the “For Sale” sign goes up

You can sell your house in any condition, but if you want top dollar and to sell your home as quickly as possible, you may need to take on a few projects to get your house show ready. At minimum give yourself time to declutter, remove all personal items like family photos (no matter how cute you look) and clean like the most judgmental mother in law in the world is coming over. A good real estate professional will be able to tell you exactly what you need to do before your house hits the market (it might be less than you think). Give yourself about a month to get your house in tip top shape. Longer if you plan to take on special projects.

Put your agent to work

Your agent will need time to have professional photos taken and processed (ours take about a week) and time to then take those photos and create beautiful marketing materials (another couple of days). This means your house needs to be photo ready at least a week before it goes on the market. With all of your projects, and time to create a marketing campaign, you need to have your agent 5 - 6 weeks before your listing date. This means if you want to be out the door by the end of June (sticking with the above timeline) you need to interview agents in around March.

Holy Crow I didn’t know it took that long!

Did this timeline clear things up for you? Or are you panicking? Need any further more information? When you are ready give me a shout. 
Call David at 209.483.6523 or email him at mckeeverrealestate@gmail.com
 

 

See Also:
SEARCH STOCKTON REAL ESTATE HOMES
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